The Glass Steagall Myth

In this podcast:

(1) I discuss how re-instituting Glass Steagall wouldn’t solve problems of our banking system.

(2) The main problem is the Fed and Moral Hazard.

1 comment to The Glass Steagall Myth

  • James Tetreault

    Another of the great myths of the great depression and of financial regulation is the saintly Pecora Commission from the early 1930’s. Yes, it revealed a lot of the fraudulence that had ocurred in the financial industry in the late 20’s. But the only guy who went to jail as a result of the Pecora Commission was a guy who had robbed other rich elites. The crooks who robbed middle class or average people all skated. Maybe not a coincidence.

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